(((FUN))) fact

[Anonymous No.14239279]

ehehehehe

[Anonymous No.14239331]

>>14239279
Having FUN yet?

[Anonymous No.14239369]

>>14239331
lmao are you a bot? this thread is about ALGO not the shitty FUN bags

[Anonymous No.14239579]

>>14239279
Algorand is the most greedy ico in history.
They sold their last auction at a $24B valuation. This is EOS on steroids, they do the exact same on-going ico shit, but worse, because it's going to happen while the network is actually running.
Look at that circulating supply, dark blue is Algorand, orange is the amount sold at auctions.
They are going to receive majority of rewards too.

I'm pretty sure they wanted like $50B from Facebook.

[Anonymous No.14239662]

>>14239579
You don't have to hold it 5 years lmao. Right now the circulating supply is 25m ALGO and the market cap is 60m. A potentially top 5 coin is at 60m right fucking now. AND they already have the mainnet running. Buy now on a smaller exchange, wait for binance/coinbase and flip it. Then forget about it for 3 years, then buy again. It's not that hard

[Anonymous No.14239698]

>>14239662
Circulating supply is about 2.7B, that would give it the 6th place on cmc from the start.

[Anonymous No.14239739]

>>14239698
it's 25m sold today. plus there are the Foundation tokens but they don't count since they won't be moved/transacted.

[Anonymous No.14239786]

Mark Zuckerberg and Jez San announced a joint partnership today where Funfair will power gambling games using Libra on the Facebook social media platform. When asked why Facebook decided to partner with the relatively unknown cryptocurrency project, Zuckerberg said that he had "always been a huge fan of Star Fox 64" and knew that any project with San at the helm was destined for great things.

[Anonymous No.14239839]

>>14239739
The graph is literally called circulating supply, you're assuming cmc is going to use another calculation that algorand itself provides.
Anyway, I just read their refund policy. This is kikery of the highest level, wow. You can get a refund for algorand for 90% of the price you bought in, but only your own specific algorands and only in a 7 day window a year after the sale.
...
and I thought eos' ico was bad.

[Anonymous No.14239897]

>>14239839
>but only your own specific algorands
that's incorrect. you can freely sell your algos and buy back some "other" algos and return them.

>The graph is literally called circulating supply
I agree, that's a mistake on their part. I'm sure CMC will list them at 25m though.

[Anonymous No.14239909]

>>14239786
kek I'm saving this one

[Anonymous No.14239984]

>>14239897
provide source, the language is pretty clear

>All bids, including successful bids, are tracked on the Algorand blockchain and associated with an account that has satisfied KYC/AML requirements. Additionally, the auction settlements will be posted to the Algorand blockchain. Therefore, all addresses that successfully purchase Algos will be recorded along with the amount of Algos that they received.

>During the open refund claim window, a user who purchased Algos at auction can return their Algos to the foundation by issuing a transaction on the Algorand blockchain.

and it makes perfect sense. It means you can't send your algos to the exchange, not even just deposit. They have to sit in your own account. It also means it doesn't make sense to buy algos from an exchange, because you don't get a chance at a refund.
They literally want to get every last cent of anyone that is even thinking about buying algo.

[Anonymous No.14240067]

Clam down, pajets
https://twitter.com/CoinbaseCustody/status/1141397066603622400

[Anonymous No.14240117]

>>14239984
do you read "can return their Algos" as "must return the same Algos"? I don't think it's true.

Here's what Michael Arrington wrote:
>If participant A buys 1,000 Algos at a clearing price of $2, they are now hedged for 90% of their exposure.They have a right to sell 1,000 Algos back to the Foundation at $1.80 in 365 days, no matter what happensto price in the interim. This downside-protection is fungible: participants don’t need to refund the “same”Algos. They can trade in and out and claim the refund as long as they have the Algos at the refund date 365 days after auction.
chrome-extension://oemmndcbldboiebfnladdacbdfmadadm/http://arringtonxrpcapital.com/wp-content/uploads/2019/06/aXRPc_algorand_a_monetary_experiment.pdf

[Anonymous No.14240205]

>>14239984
additionally, the refund process gets worse and worse rate as price gets below $1, up to 0% at $0.1.
They want people to pump the price at exchanges to $1, but everything above that, they want to get themselves.

I'm skeptical of this ever pumping beyond the first few auctions, exactly because they squeeze every cent. It's not going to be like normal ico pump where money circulates leading to enormous implied leverage, everything just goes to algorand. Once they get $1B - cash in a bank account - who is going to be left to buy algorand?

It's like brainlets that think that bitcoin's market cap being at $162B means there are $162B somewhere, except algorand is designed to make it true.
>>14240117
given that this is kikery of the highest level, until I see the actual terms and conditions (apparently available only to kyced accounts) I'm going to assume that yes, it's for original algorands. He could claim to be wrong with no consequences "oh sorry, that was a mistake".

[Anonymous No.14240273]

>>14240205
his fund invested mullions during this auction into ALGO, I doubt he doesn't understand the refund process

[Anonymous No.14240332]

>>14240273
>his fund invested mullions during this auction into ALGO, I doubt he doesn't understand the refund process
sure, but did he write the truth? His fund being invested is a good incentive to mislead.
are there legal consequences if he turns out to be wrong, "my mistake"? I don't think so.
This is not an ico from some autists, this is the most predatory attempt at extracting money from crypto in history.

[Anonymous No.14240362]

>>14240332
isn't a dutch auction actually one of the most fair ways to distribute tokens though?

[Anonymous No.14240417]

>>14240362
Define fair. One thing it certainly does is to maximize the money flow to algorand.
They want to sell 600M algos per year. The first auction was for $2.5/algo. If it rises 4x to $10 in the second auction, for the price to keep at $10 during the next year buyers collectively need to bring $6B. Not market cap, actual cash held in a bank.
This is just not going to happen, there's no $6B waiting on the side to buy algorands. At $2.5 it 'only' needs $1.5B per year. Yeah right.

What a fucking kike trap. It may pump for a tiny bit, but it's like collecting pennies in front of the steamroller.

Anyway, if you have terms & conditions for the refund it would be good to verify how they describe the refund process.

[Anonymous No.14240843]

>>14240417
The auction price is dictated by the market. I can be $2.4 for the first auction, and $0.1 for the second one (and then $3 for the third). Just like with BTC, if its market cap is $162,220,942,027, it doesn't mean this much money was invested into it.

I don't have the terms unfortunately.

By the way, did you read the rest of this document? http://arringtonxrpcapital.com/wp-content/uploads/2019/06/aXRPc_algorand_a_monetary_experiment.pdf
It highlights several killer features of ALGO, like not being correlated to other cryptocurrencies and thus being a good investment for funds willing to hedge. Their scheme with refunding 90% after a year is genius. It will create several price floors at different levels. So people who bought at $2.4 today, will have their refund price of $2.16. Now, a year passes and the price goes down to $1. What do these buys do? Of course they start buying back ALGOs to refund them, thus pushing the price up. And every auction will have its own price, creating its own price floor, making ALGO truly uncorrelated to all other cryptos. Imagine the influx of funds just for this reason.

[Anonymous No.14240860]

>>14240417
Fair as in allowing people to decide how much they want to pay for the coin.

[Anonymous No.14240913]

>>14240417
>On the other hand, these dutch auctions are music to the ears of large institutional investors who think carefully about risk management and hedging. If you’re a new endowment, hedge fund or family office looking for cryptocurrency exposure—why hold cash when you could LONG Algo, getting your bleeding edge exposure, while hedging the down-side? You could imagine that Algos become a staple for portfolio and risk management, particularly as institutional AUM grows. This is the first time a native cryptocurrency is also a native hedging tool. More sophisticated investors will enter the space, viewing the Algo currency as a very convenient way to gain upside exposure to an innovative project while limiting their downside.